North Glasgow Housing Association (NGHA) is using a £17.5 million funding package to take control of 3,000 homes.

The move, which also sees 70 staff transfer from Glasgow Housing Association, will make NGHA one of the large community housing association in Scotland with 5,500 houses under its control.

Tenants in Springburn, Balornock, Parkhouse, Red Road and Possilpark are included in this transfer.

Clydesdale Bank has provided the funding package for the move and NGHA's investment in the properties.

Robert Tamburrini, chief executive of North Glasgow Housing Association, said: “This transfer marks the start of a bright new era for North Glasgow.

“This process is about providing real local control which gives tenants a much bigger say on local priorities. That will be the real success story of this process – giving power to the communities we serve.

“We have an established wider action programme which is helping to deliver many benefits for the local community including learning and employment opportunities.

“We are delighted with the support we have received from the team at Clydesdale Bank in ensuring a smooth and effective transfer process and we look forward to working closely with them as we progress our plans following its completion.”

Clydesdale Bank, as well as funding the transfer, will also support the Association’s ongoing management, maintenance and investment plans for the properties.

Stephen Fleming, business development partner at Clydesdale Bank, added: “North Glasgow Housing Association has an excellent track record across more than three decades of delivering top quality homes and services to its tenants and residents.

“Their team has a strong focus on the key priorities for the communities it serves and a clear vision of how to bring the maximum benefit to residents.

“We place a high value on our close relationship with the communities in which we operate and we are pleased to be able to support the Association in their ambitious plans for North Glasgow.”

Earlier this year nearly 7,500 homes across eight communities were moved under the Second Stage Transfer (SST) programme from council to community-based housing associations.

Under the terms of the programme, residents are given the chance to vote in favour of switching ownership in local ballots on the future ownership of their homes.

The SST process was formulated when GHA took over Glasgow Council's 81,000 homes in 2003 with the intend of parcelling the homes out to smaller, local housing associations.

By 2009, GHA had transferred just 1,700 homes, which led the Scottish Housing Regulator to report “significant weaknesses” in the way GSA managed SST.

The SST programme is scheduled to close and the end of the month, which has led to nearly 19,000 homes transferring from council to community-based housing associations.